Although it has been at the forefront of village development over three decades, Challies and the new chief executive Gordon MacLeod have both predicted a future surge in retirement home living as more people reach retirement age.

Ryman operates management, and staff share purchase schemes and provides finance for them to buy the shares.

In a recent statement to the Stock Exchange it announced interest free loans to management staff for the 2017 year of up to $13m, repayable when the employee leaves the company or when the shares are sold.

The price is determined by the share price at the time.

The company has also allocated $1m for an employee scheme, in which each staff member contributes a minimum of $500 and up to a maximum of $10,000 towards the purchase of Ryman shares.

If a staff member contributes $1000 to purchase shares, then the company will lend a further $1000 up to a maximum of $10,000.